Notably, Vietnam’s export earnings in the market dropped 2.6 percent to USD 1.95 billion, while its imports experienced an 8.1 percent drop to USD 3.5 billion, reported the office.

The sharpest plunge was seen in imports of petrol at 41.6 percent, followed by machinery and spare parts at 20 percent, animal and vegetable oil at 14 percent, material plastics at 11.2 percent.

Vietnam, Malaysia see trade drop in H1. (Photo for illustration)

Household electrical appliances and accessories were the only group that saw increase in import revenue in the market in the first half of this year at 8.7 percent.

Meanwhile, exports of many major products were also down in the period, including computers, electronic products and accessories (25.3 percent), telephones (30.2 percent), crystal and crystal products (24.4 percent).

However, rise was seen in other groups such as machinery and accessories, transport vehicles, and fisheries.

In June alone, trade between Vietnam and Malaysia was USD 806.6 million, down 14.6 percent over the same period last year, with imports declining 19.3 percent to USD 485.7 million and exports falling 6.9 percent to USD 320.98 million.

According to the Foreign Investment Agency, in the first six months of 2019, Malaysia invested in 18 projects in Vietnam with total capital of USD 21.28 million.

As of June 20, 2019, Malaysia ran 599 projects in Vietnam with USD 12.5 billion, ranking eighth in 132 countries and territories investing in Vietnam.

Source: VNA